Stocks of Equity Residential (NYSE:EQR) rallied by 2.16% during the past week but lost 2.46% on a 4-week basis. The company has outperformed the S&P 500 by 3.38% in the past week but underperformed the index by 3.35% in the last 4 weeks.
Equity Residential (NYSE:EQR): The stock opened at $65.99 on Friday but the bulls could not build on the opening and the stock topped out at $66.11 for the day. The stock traded down to $65.16 during the day, due to lack of any buying support eventually closed down at $65.81 with a loss of -0.66% for the day. The stock had closed at $66.25 on the previous day. The total traded volume was 3,112,298 shares.
The company shares have dropped -11.15% from its 1 Year high price. On Dec 31, 2015, the shares registered one year high at $82.39 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $67.69 and the 200 Day Moving Average price is recorded at $73.39.
On the companys insider trading activities,The officer (Executive Vice President) of Equity Residential, Tennison Mark N sold 52,293 shares at $74.88 on March 29, 2016. The Insider selling transaction had a total value worth of $3,915,700. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Jefferies downgrades its view on Equity Residential (NYSE:EQR) according to the research report released by the firm to its investors. The shares have now been rated Hold by the stock experts at the ratings house. Earlier, the shares had a rating of Buy. Jefferies lowers the price target from $79 per share to $66 per share on Equity Residential. The rating by the firm was issued on June 8, 2016. Currently the company Insiders own 3.9% of Equity Residential shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -61.62% . Institutional Investors own 99.14% of Equity Residential shares. During last six month period, the net percent change held by insiders has seen a change of -11.39%.
Equity Residential is a real estate investment trust (REIT) focused on the acquisition, development and management of apartment properties in the United States growth markets. ERP Operating Limited Partnership (ERPOP) conducts the multifamily residential property business of Equity Residential. The Company is the general partner and owns an approximate 96.2% ownership interest in ERPOP. The remaining 3.8% interest is owned by limited partners. As of December 31, 2014, the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 391 properties located in 12 states and the District of Columbia consisting of 109,225 apartment units. All of the Companys property ownership, development and related business operations are conducted through ERPOP.